| (1) | The owner, master or agent of a ship that is registered in the Republic or that is registered in a state that is not a Contracting State, may apply to the Authority for the issue of an insurance certificate for the ship. |
| (2) | The application in terms of subsection (1) must be made in the prescribed manner and form together with the supporting documentation and information determined by the Authority. |
| (a) | if it is satisfied that the owner of the ship is maintaining insurance or other financial security for the ship in an amount that will cover the limits of liability prescribed by paragraph 1 of Article V of the 1992 Liability Convention in relation to the ship, issue to the applicant an insurance certificate for the ship; or |
| (b) | if it is not so satisfied, refuse to issue such a certificate in respect of the ship. |
| (4) | An insurance certificate issued under this section in respect of a ship— |
| (a) | must be in accordance with the prescribed form, being a form that contains, but is not limited to containing, the particulars set out in paragraph 2 of Article VII of the 1992 Liability Convention; |
| (b) | comes into force on the day specified in the certificate; and |
| (c) | remains in force, subject to this Part, until— |
| (i) | a date 12 months after the day on which the certificate comes into force; or |
| (ii) | the date that the Authority is satisfied is the last day in the balance of the period during which the insurance or other financial security in respect of the ship is to remain in force, |
whichever is the earlier date.
